Through our subsidiary, White Mortgages, we’re pleased to offer specialised property-based solutions that could help you make the most of your wealth in retirement.
Later life lending: flexible borrowing for your retirement years
Later life mortgages is a term covering different types of schemes specifically designed for those in or approaching retirement, offering flexible borrowing solutions that work with your retirement income. These include retirement interest-only (RIO) mortgages, equity release mortgages, and home reversion plans – all different forms of lifetime mortgages.
Aside from home reversion plans, where you receive funds effectively for selling all or part of your home at the onset, these mortgages can provide the funds you need while maintaining ownership of your property.
Key benefits of later life lending:
- access additional funds while maintaining your current lifestyle, with options for regular monthly payments or interest-only arrangements
- benefit from competitive fixed interest rates with flexible repayment terms that suit your retirement income
- use the funds for home improvements, helping family members, or creating an additional income stream for your retirement
- retain full ownership of your property with the ability to move home or downsize in the future if you wish
Equity release – unlock your property wealth
Equity release allows you to access the value built up in your property without the need to move home. This can provide you with a tax-free lump sum or regular payments while you continue to live in your home for as long as you choose.
Key benefits of equity release:
- release tax-free funds from your property while retaining the right to live there for life
- no required monthly payments – the loan and interest are typically repaid from your estate when you pass away or move into long-term care
- protected by the ‘no negative equity guarantee’, ensuring you’ll never owe more than your home’s value
- options to ring-fence a portion of your property’s value as an inheritance for your family
Retirement interest-only (RIO) mortgages
Probably the most similar to a mortgage you may have had in the past, an RIO arrangement is more of a traditional mortgage and requires an affordability assessment, unlike equity release. Subject to affordability, you can borrow against your home to either raise funds or replace an existing repayment mortgage, making payments each month to the lender but on an interest-only basis.
The value of expert guidance
Our specialist advisers at White Mortgages understand the complexities of property-based retirement solutions and will:
- provide comprehensive, personalised advice considering your entire financial situation
- explain all available options clearly, including how they might affect your tax position and benefit entitlements
- work closely with your existing Mattioli Woods adviser to ensure any lending decisions complement your overall financial strategy
For more information, please contact White Mortgages:
I would like to chat about my mortgage options
Important information:
Your home may be repossessed if you do not keep up repayments on your mortgage, where required. To understand the features and risks of later life mortgages, ask for a personalised illustration. The amount you can borrow depends on your personal circumstances. Releasing equity from your home may affect your tax position and eligibility for means-tested benefits. A lifetime mortgage is secured against your property.
Mattioli Woods, 1 New Walk Place, Leicester, Leicestershire, LE1 6RU, United Kingdom
Mattioli Woods Limited is authorised and regulated by the Financial Conduct Authority. Mortgages are arranged by White Mortgages Ltd, a subsidiary of Mattioli Woods.
White Mortgages Ltd is authorised and regulated by the Financial Conduct Authority. FCA Number 551714.
